Viacom, Inc. VIA 2.56% VIAB 2.54% is in one heck of a slump. Early indications are that its most recent hope, “Ben-Hur,” will not change Viacom’s luck.

In a new note, Loop Capital Markets analyst David Miller cut earnings estimates for Viacom and discussed the company’s box office losing streak.

According to Miller, the “Ben-Hur” flop could have been a lot worse if MGM hasn’t picked up much of the production cost. However, he estimates Viacom still shouldered roughly $65 million in production and advertising costs for the movie.

In the wake of yet another flop, Loop has slashed FQ4 EPS estimates for Viacom from above-consensus $1.06 to below-consensus $0.85. The firm also cut revenue estimates from $3.39 billion to $3.35 billion.

Viacom shares are now down 8.8 percent in the past month, making some of the stock’s valuation metrics seem appealing on the surface. Miller notes…

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